Tompkins Financial Corp grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,685 shares of the business services provider's stock after purchasing an additional 6,166 shares during the quarter. Waste Management makes up approximately 1.5% of Tompkins Financial Corp's portfolio, making the stock its 18th biggest position. Tompkins Financial Corp's holdings in Waste Management were worth $15,670,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Waste Management in the fourth quarter valued at $1,009,726,000. GAMMA Investing LLC boosted its stake in shares of Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after purchasing an additional 1,902,081 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Waste Management during the 4th quarter valued at about $340,611,000. Capital Research Global Investors boosted its stake in shares of Waste Management by 250.1% during the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after purchasing an additional 1,184,905 shares in the last quarter. Finally, Parnassus Investments LLC boosted its position in Waste Management by 22.5% during the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after acquiring an additional 1,151,237 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.
Waste Management Stock Performance
WM stock traded up $3.33 during trading on Friday, reaching $241.09. The stock had a trading volume of 2,439,995 shares, compared to its average volume of 1,649,823. The stock's 50 day moving average is $230.41 and its two-hundred day moving average is $222.79. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $241.68. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The firm has a market cap of $97.02 billion, a PE ratio of 35.45, a PEG ratio of 2.71 and a beta of 0.67.
Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. During the same period last year, the firm earned $1.75 EPS. Waste Management's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.37%. Waste Management's dividend payout ratio is presently 49.77%.
Insider Buying and Selling at Waste Management
In related news, SVP Tara J. Hemmer sold 3,094 shares of Waste Management stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $228.11, for a total transaction of $705,772.34. Following the sale, the senior vice president now owns 53,663 shares of the company's stock, valued at approximately $12,241,066.93. This trade represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer now owns 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,947 shares of company stock valued at $20,536,508 over the last ninety days. 0.18% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Citigroup lifted their price objective on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Morgan Stanley boosted their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Royal Bank of Canada boosted their price target on Waste Management from $227.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Oppenheimer boosted their price target on Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $247.06.
Get Our Latest Stock Report on Waste Management
About Waste Management
(
Free Report)
Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.
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